MARA (NASDAQ:MARA) Earns Hold Rating from Needham & Company LLC

MARA (NASDAQ:MARA)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research report issued on Thursday, MarketBeat.com reports.

A number of other research firms have also weighed in on MARA. B. Riley raised their price objective on shares of MARA from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of MARA from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $23.00 in a report on Tuesday, December 10th. Piper Sandler initiated coverage on MARA in a research note on Tuesday, December 17th. They set an “overweight” rating and a $34.00 price target for the company. Barclays initiated coverage on MARA in a research note on Monday, November 25th. They issued an “equal weight” rating and a $27.00 price objective for the company. Finally, Compass Point cut MARA from a “buy” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.67.

MARA Stock Performance

Shares of MARA stock opened at $13.92 on Thursday. The business has a 50-day simple moving average of $17.64 and a 200 day simple moving average of $18.42. MARA has a one year low of $12.05 and a one year high of $30.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 17.62 and a beta of 5.76.

MARA (NASDAQ:MARA) last issued its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. On average, research analysts anticipate that MARA will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $646,367.50. Following the completion of the sale, the chief executive officer now directly owns 4,128,090 shares of the company’s stock, valued at $97,010,115. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $392,450.00. Following the sale, the chief financial officer now owns 1,836,129 shares in the company, valued at $43,149,031.50. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,215 shares of company stock worth $2,033,766. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On MARA

Several large investors have recently modified their holdings of MARA. Charles Schwab Investment Management Inc. lifted its holdings in MARA by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after purchasing an additional 217,106 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of MARA by 112.4% in the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after purchasing an additional 107,963 shares during the period. Weiss Asset Management LP purchased a new stake in shares of MARA during the 3rd quarter valued at approximately $1,557,000. Intech Investment Management LLC bought a new position in MARA in the 3rd quarter worth approximately $1,107,000. Finally, Public Sector Pension Investment Board grew its stake in MARA by 4.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 624,818 shares of the business services provider’s stock valued at $10,135,000 after buying an additional 24,300 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About MARA

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.